Featured image of post What Is Contra Entry Meaning / Contra asset account is an asset account having credit balance which is related to one of the assets with so we show $2,000 ($100,000*2%) as provision for doubtful debts, which is a reduction from debtors value and means that only $98,000.
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What Is Contra Entry Meaning / Contra asset account is an asset account having credit balance which is related to one of the assets with so we show $2,000 ($100,000*2%) as provision for doubtful debts, which is a reduction from debtors value and means that only $98,000.

Contra entries are those entries which take place between bank and cash.

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